Title Problem

[austinsailor]

It may vary slightly from state to state, but basically you provide some sort of proof it is your car, usually a notarized bill of sale, a statement or old documentation of some sort. In your case, the signed title and a statement from you that you bought it in Nevada and didn't realize it needed a notary. You buy a surety bond that is intended to pay the real owner the value of the car, if such a person steps forward and proves it is really his car.

In the event that happened, which I've never heard has happened (I'm sure it has somewhere sometime) the bond company would pay the real owner, then they would come collect from you.

The title in most states would be a negotiable title, but would have "bonded title" written on it (similar to a salvage title marking) and they usually stay that way for 3 years, at which time you can get a new title with the bonded title designation removed. You can also sell it at once, or register it in another state with that title. I've taken a bonded Texas title, with the ink still nearly wet, and registered it in Missouri, getting a clean Mo. title without anyone blinking an eye.

You have two places you have to make them happy. You have to satisfy the state license people and meet their requirements, and you have to make the bonding company happy. I've done several in Texas, and the bonding company is more particular than the state.

Cost of the bond is based on the value the state sets for the car. Some states, Texas for one, goes by blue book value. For old cars there are 4 levels, the top one being "Show car" or something like that. It's pretty high. They go by the next one, whose name I forget, but it's like "Nice driver with no flaws". Some states allow you to get an appraisal and use that. In Missouri, an appraisal from 2 car dealers will work. Nothing fancy, just written on the letter head of any licensed car dealer will work. In Texas, it used to be one appraisal from a licensed car dealer. The last one I did they would only go by the book value. I don't know if it really changed, or the area office just didn't know. They do a lot there, though. It's real common in Texas.

In this case, I paid for a $9000 bond (about $300) on a nearly junk dodge panel truck I paid $125 for. Minimum bond cost is $100, which covers about $3000 in car value.

In Missouri they have 2 bonded title programs, one for cars 25 years or older, intended to cover cars in fields, etc. The other is for cars at least 7 years old and worth $3000 or less. The big difference, though, is that with the 25 year method you get a salvage title. Then there are hoops to go through to get a title you can get tags with, and it'll always have a "previous salvage" designation. With the second method, you get a clean title, no salvage involved.

And you might wonder why you don't hear much about this. I found it by going through my legislator, trying to get him to introduce a law to allow such things. I'd asked at several license offices and nobody had a way to register old stuff like that. So, doing his research, he went to the Department of Revenue (who license cars) and asked them to tell him what was what. Lo and behold, they came back and said they didn't need such a law, as they already had one, the salvage title one. Nobody knew. I did my own research and found the other. I went to Jeff City to the main HQ and quizzed them. I found that only there did they know, and they did about 1 a month - for the whole state. If nobody knows, nobody is going to do them.

Anyway, More than you ever wanted to know, but you now have at least 2 methods. Bonded title, with possibly breaking new ground if they haven't done many, or any, or bring it to MO and we'll get you one in a few minutes after you make a very long drive.

If you are moving to another state you might check to see if it'll be easier there. If they require no notary, you'll be set with what you have.

Edited March 13, 2011 by austinsailor

[Shawn F.]

I am glad to have this info, I am going to copy and paste it to save for future use... It may come in handy. Today I am going to pull my title out and see if it needs to be notarized (actually going to do that right now) and then go from there. Maybe this week or next I will go to the plates place and try taking care of it. I will keep you guys posted on what I find out in case you care to know.

[Shawn F.]

I think I got lucky... I do not see any sections on this Nevada title that need to be notarized. It is signed by both names that are on the title (wife and husband) and everything else is blank for buyer and date. Only thing that may be a problem which I've had in the past is the wife didnt have room for her name so wrong underneath her husbands signature and hand printed name...

I also found another title of an old truck I bought in my name that someone bought from me, never made the payments and took it to a scrap metal yard and fled the state... Hope I dont have problems with this one either. Man what a pain this can be. I think this will be my 12th or 13th vehicle and title I have had to take care of. I knew I had an addiction to old cars.

[K_Jordan]

I dont know if you still need this info but here it is.

I recently went through the same thing with my 48 plymouth in June of this year. I was told many different ways that the Bonded title process works. Here is the one way that worked for me.

1. Go to the License plate office and find out the value of the car for tax purposes.

2. Get a NC lost title bond from http://www.thebondexchange.net/ for 1.5 time the value of the car. (I used the serial number in the door jam as my vin #)

3. Have a NC DMV Theft inspector come inspect the vehilce. (Ask for a written copy of the report or you paper work will take upto a year and a half to be completed.)

4. Fill out this form http://www.ncdot.gov/download/dmv/VR_MVR92D.pdf

5. Take the previous mentioned forms to the DMV License plate office along with a notarized copy of the bill of sale and original Title (if you have it) and pay the taxes, tag fee $28, notirization fee $5

I was told by the DMV inspector that NC normally uses the Motor number for titles but since I had already purchased my Bond using the serial number it was ok.

I was also told that the bonded title should arrive no later than four months. He even went on to say that in the past ten years he has only seen 3 peoples title application not get approved.

[Dan Hiebert]

Amazing how each state differs in its requirements and methods to reach the same end. I've had to register cars in 6 states and have had to do it 6 different ways, and they had 6 different ways to figure out what I owe them. Believe it or not, the easiest has been New York:eek:

[Robert Horne]

Here in Virginia the DMV will have 6 or more different ways to title a car.

Each time I go it is something different. My 49 title was easy. I bought

the car in Ga., where you only get a bill of sale for old cars, but the car had

a Ill. title from the prevous owner.

Another title I had done, I had to go to DMV 5 times, talk to a different person, and bring something else signed, or copied, etc. On the 5th trip,

the lady did not ask for anything other than the title, and I received the title no problem.

We do not needed titles notarized in Va.